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Michigan's upset victory over Kansas earned head coach John Beilein a $100,000 bonus and secured more than $1.5 million for the Big Ten over the next six years.

This year's NCAA tournament has offered upsets across the board. Several underdogs made noise, with Florida Gulf Coast, La Salle and Oregon making the Sweet Sixteen and N0. 9 seed Wichita State going all the way to the Final Four. Highly touted teams have also been shut down, with No. 1 seeds Indiana and Kansas both failing to make the Elite Eight after upset victories by Syracuse and Michigan, respectively.

But while those stunning upsets have busted brackets across the country, they have also generated millions of dollars for the winning coaches and conferences.

Head coaches Rick Pitino, John Beilein and Greg Marshall have collected a total $690,000 from tournament bonuses thus far. Pitino and Beilein can each make another $150,000 for winning the title game, and Marshall's championship bonus is $200,000. Syracuse's Jim Boeheim has undoubtedly earned some valuable incentive payouts but details of his contract are not publicly available.

Each Final Four team has maxed out its earning potential for its conference because the championship game is not counted toward the NCAA's conference distributions. A run to the Final Four accrues a team's conference five basketball units, one for each game played, which are worth an estimated total $7.7 million over the next six years.

Those conference payouts are made possible by the NCAA's TV deals with CBS and Turner. Last year the two networks generated over $1 billion from the tournament, thanks in part to a $700,000 ad rate for a 30-second spot during the Final Four. The championship game demanded nearly twice that.

Louisville is the only remaining No. 1 seed and, perhaps not coincidentally, college basketball's most valuable team, worth $38.5 million. The Cardinals generated around $25 million in basketball profit in 2011-12; only five other teams generated as much in total revenue. Syracuse ranks ninth among the sport's most valuable programs, worth $19.2 million this year. The two programs will only get richer as they move to the ACC; Syracuse joins later this year and Louisville in 2014.

Wichita State, though able to knock off top seeds Gonzaga and Ohio State in the West Region, is hardly a contender in terms of financial success. The Shockers basketball team was barely able to scrape out a profit last year, and the school's entire athletic department reported annual revenue of $19.8 million. Louisville's basketball team, meanwhile, generated more than $20 million just from contributions alone.